greenteg, founded in 2009 as an ETH Zurich spin-off, develops, manufactures and markets unique heatflux thermal sensors for brands, OEMs and research labs. Its products serve applications in photonics, building insulation, battery characterization, medical and sports wearables. The company launched the CORE Performance Sports Wearable brand in 2020, which has been used by the 1st and 3rd ranked 2022 Ironman Hawaii winners and by cyclist Filippo Ganna. greenteg plans to invest heavily in R&D for medical applications to enable continuous monitoring of vital signs and remote diagnostics. The company also intends to scale its production capacity in Rümlang (Zurich) by a factor of 10 in 2023 and aims to ship tens of millions of sensors to wearable customers in the coming years. The recent financing provides capital to execute these product, production and market-expansion plans. greenTEG AG is an ETH spin‑off based in Zürich that develops, produces and markets thermoelectric sensors and generators. Its devices harvest small temperature differences between a heat source and ambient air to produce electricity. The company is commercializing an intelligent, energy‑saving heating valve that operates autonomously without batteries. greenTEG says use of its thermoelectric generators and valves can cut greenhouse‑gas emissions by about 25% versus classic thermostats. The product’s battery‑free design aims to remove the need for battery replacement and enable a plug‑n‑play installation experience. greenTEG is in the market‑introduction phase, facing initially high production costs for which external support has been secured. Greenteg develops flexible thermoelectric films that convert heat directly into electricity. Its flexible films can be manufactured much less expensively than conventional thermoelectric generators and are intended for a wide range of applications. The technology builds on achievements of several PhD theses from the Micro- and Nanosystems Group at ETH Zurich and the team includes specialists in engineering, chemistry, and physics. Greenteg was founded in 2009 and received the CTI Start-up Label in 2010. The company is determined to become a market and technology leader in thermoelectrics by 2015. It recently won the Climate-KIC Venture Competition and received a €40,000 grant plus non-monetary support including access to a Climate-KIC masterclass, entrance to the EIT Entrepreneurship Competition, and coaching and network support. greenTEG makes a very bendable, low-cost thermo-electric generator (TEG) developed from ETH Zurich research to convert temperature differences into electrical power. The product is positioned as cheaper and mechanically more flexible than prior TEGs and has potential applications in combustion engines where waste heat is abundant. The company has sold initial prototypes and reports automotive manufacturers are showing interest. greenTEG originated from doctoral work by CEO Wulf Glatz with further development by Etienne Schwyter and support from Lukas Durrer. The startup received support from venturelab and venture kick during commercialization. To bring the first production series to market (estimated in about two years) the company says it requires capital in the low single-digit million range and is currently covering development through personal injections, investor convertible loans, competition prize money and third-party project and foundation funds.

Total raised

$11M

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2022